First Data Corp.'s Investor Services Group (ISG) has named James L. Fox as president, effective immediately, replacing Jack Kutner, who has left to pursue other personal interests. Kutner, president since 1996, will remain in an advisory capacity for both First Data Corp. and the Investor's Services Group.

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"The ISG management team, under Jack Kutner's leadership, has reinvigorated growth in its core markets and moved into adjacent markets, like fund distribution services and retirement plan services. Jack leaves behind a seasoned and capable management team with Jim Fox at the helm to take the company to the next level. We are deeply appreciative of Jack's many contributions and wish him well," said Ric Duques, chairman and chief executive officer of First Data.

Fox, who most recently served as chief operating officer, has been with First Data Investor Services Group for 10 years. As president, he will oversee all strategic, operational and client activities in the division's mutual funds, retirement services and mutual fund subaccounting services markets.

"Jim's leadership of First Data's Investor Services Group will ensure the continued positive growth momentum. Jim's proven track record as a keen financial manager has been instrumental not only in the growth of existing businesses, but also in identifying acquisitions key to the long-term growth strategy and leading the company's margin improvement initiatives, accordingly making him a natural incumbent for the position," said Duques. 

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